Marc Lore, the president and CEO of Wal-Mart’s U.S. e-commerce unit, announced the incubator — dubbed Store No. 8 in honor of an early Wal-Mart location home to some of founder Sam Walton’s most ambitious experiments — during a keynote appearance here at the Shoptalk 2017 conference. Lore stated the incubator will help build “startups that have a responsibility to change the course of retail,” not just in the immediate future but five and 10 years down the road.

“The focus is not just on today,” Lore said. “Think bigger.”

Lore disclosed few other details about Store No. 8, but said it would announce the first business and CEO accepted into the program in the near future.

“What’s amazing to me is that everything Wal-Mart and [CEO] Doug McMillon said when they were contemplating buying [Jet] — about how they were going to allow Marc and team to have an influence over the broader strategy of the company — they’ve done,” Scott Friend, managing director at Bain Capital Ventures and an early Jet investor, told Retail Dive during a Shoptalk briefing. “That’s so unusual based on what I’ve seen in [mergers and acquisitions] in general, and retail M&A in particular. If any acquisition in this market has a fighting chance of being truly transformational for a big, legacy retailer, this one does. Marc and his team are so good, and if you give them a bigger playing field and more resources, I don’t think there’s anything the guy can’t do.”